Insider Selling: PTC Therapeutics (NASDAQ:PTCT) Director Sells $916,500.00 in Stock

PTC Therapeutics, Inc. (NASDAQ:PTCT) Director Michael Schmertzler sold 12,500 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $73.32, for a total transaction of $916,500.00. Following the sale, the director owned 1,374,094 shares of the company’s stock, valued at approximately $100,748,572.08. This represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT traded down $0.70 during midday trading on Friday, hitting $69.82. 674,738 shares of the stock traded hands, compared to its average volume of 1,430,370. The firm has a 50-day moving average of $77.73 and a two-hundred day moving average of $72.37. The firm has a market capitalization of $5.83 billion, a P/E ratio of -120.38, a PEG ratio of 2.27 and a beta of 0.56. PTC Therapeutics, Inc. has a one year low of $48.28 and a one year high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.24 by $0.68. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 3.80%.The company had revenue of $360.52 million during the quarter, compared to analyst estimates of $298.63 million. PTC Therapeutics’s revenue was up 101.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.83) earnings per share. Equities analysts forecast that PTC Therapeutics, Inc. will post 1.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PTC Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of PTCT. Teachers Retirement System of The State of Kentucky lifted its stake in shares of PTC Therapeutics by 86.9% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 40,858 shares of the biopharmaceutical company’s stock valued at $3,103,000 after buying an additional 19,000 shares in the last quarter. Thrivent Financial for Lutherans purchased a new stake in PTC Therapeutics in the 4th quarter worth $4,191,000. Royce & Associates LP increased its stake in PTC Therapeutics by 146.5% in the 4th quarter. Royce & Associates LP now owns 80,794 shares of the biopharmaceutical company’s stock worth $6,137,000 after buying an additional 48,015 shares in the last quarter. M&T Bank Corp bought a new stake in PTC Therapeutics during the fourth quarter valued at about $1,859,000. Finally, Jefferies Financial Group Inc. raised its holdings in PTC Therapeutics by 4.7% during the fourth quarter. Jefferies Financial Group Inc. now owns 1,658,481 shares of the biopharmaceutical company’s stock valued at $125,978,000 after acquiring an additional 73,803 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PTCT shares. TD Cowen raised PTC Therapeutics from a “hold” rating to a “buy” rating and raised their target price for the stock from $75.00 to $90.00 in a research report on Friday, May 8th. Weiss Ratings cut shares of PTC Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday. Zacks Research downgraded shares of PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Jefferies Financial Group raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $76.00 to $85.00 in a report on Wednesday, May 27th. Finally, Wells Fargo & Company boosted their target price on shares of PTC Therapeutics from $106.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, PTC Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.55.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company’s research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC’s approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.